Affirm’s 0% loans, cards, chart a path to profitability
The buy now/pay later lender outperformed nearly every analyst estimate in its fiscal Q2 2025 earnings report. CEO Max Levchin said the company is 5 months out from positive GAAP operating income.
CFPB agrees to temporarily halt medical debt rule
The Consumer Financial Protection Bureau, now led by Treasury Secretary Scott Bessent, agreed to temporarily halt enforcement and litigation over its medical debt rule Thursday, handing the banking industry an immediate reprieve.
Banks have an important opportunity to lead on AI safety
By repealing the Biden administration’s artificial intelligence safety guidelines, President Trump has created a chance for the banking industry to demonstrate that it can be a leader in protecting consumers.
No clear signal for Fed as unemployment rate drops to 4%
Employers added fewer workers than anticipated last month, but upward revisions to previous estimates drove down the jobless rate. The report gives no clear directive to the Federal Reserve, which put rate cuts on hold last month.
Treasury access by DOGE partly limited by judge for now
Payment records are off-limits to all Elon Musk-affiliated “special government employees” except for Tom Krause and Marko Elez, and they are restricted to read-only access.
States eye new earned wage access regulations
More state legislatures are exploring how to regulate earned wage access products, and interest rate caps are central to that discussion. New York state’s pending legislation is taking a novel approach.
Banks mull their role in rebuilding diverse LA community
Until last month, Altadena was a flourishing melting pot. Now, with thousands of houses burned and no functioning banks, residents wonder if it will ever be the same.
Trump once again floats ending carried interest loophole
President Donald Trump huddled with Republican lawmakers on Thursday and discussed ending some of the biggest tax provisions that impact Wall Street.
Waller: Fed has ‘dropped’ wholesale CBDC concept
The Federal Reserve is no longer exploring the idea of creating a new liability for interbank settlements. Instead, it is looking for ways to improve existing systems.
Bankers say talent gap is in deploying, not building AI
TD and Bankwell are among those hiring people who know how to implement and scale artificial intelligence among many use cases.